Grand Canyon Education (LOPE) FY2015 results: revenue $778 million, up 12.6% on the year
Grand Canyon Education, Inc. (LOPE) reported revenue of $778 million for fiscal 2015, the year ended 31 December 2015, up 12.6% on the year before. Net income was $131 million, up 17.9%, and diluted earnings per share $2.78. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2016.
Revenue
$778 million
+12.6% on the year
FY2009FY2015
Operating margin
27.0%
26.2% a year earlier
FY2009FY2015
Net income
$131 million
+17.9% on the year
FY2009FY2015
Diluted EPS
$2.78
+17.3% on the year
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
778
691
598
+12.6%
Operating income
210
181
143
+16.3%
Operating margin
27.0%
26.2%
23.9%
Interest expense
1.2
1.8
2.2
-30.7%
Pre-tax income
209
180
145
+16.3%
Income tax
77.6
68.2
56.2
+13.7%
Effective tax rate
37.1%
38.0%
38.8%
Net income
131
111
88.7
+17.9%
Net margin
16.9%
16.1%
14.8%
Diluted EPS
$2.78
$2.37
$1.92
+17.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
n/a
167
118
Capital expenditure
205
169
78.9
+21.4%
Free cash flow
n/a
-1.6
39.5
Free cash flow margin
n/a
-0.2%
6.6%
Cash from investing
n/a
n/a
-172
Cash from financing
n/a
n/a
4.8
Depreciation and amortisation
35.7
29.5
25.4
+21.0%
Share-based compensation
11.3
9.9
9.9
+13.2%
Buybacks
15.6
5.3
9.3
+191.5%
Diluted shares, weighted
47m
47m
46m
+0.6%
Shares outstanding at period end
47m
47m
46m
+0.3%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
610
476
345
+28.1%
Debt
79.9
86.5
93.1
-7.6%
Other liabilities
202
193
178
+4.6%
Total liabilities and equity
892
756
616
+18.0%
Fixed assets
667
478
340
+39.6%
Goodwill
2.9
2.9
2.9
0.0%
Investments
139
169
108
-17.6%
Cash and equivalents
23.0
65.2
55.8
-64.7%
Receivables
8.3
7.6
7.2
+9.1%
Other assets
51.3
33.1
102
+54.7%
Total assets
892
756
616
+18.0%
10-K for the year ended 31 December 2015, filed 17 February 2016: the filing.